Eliminating our benefits, firing all non-consulting US staff, no communication, the list is endless. HCL AXON signs 5-yr global IT deal with GlaxoSmithKline 17 Dec, 2009, 12.50 AM IST. Bangalore Correspondent, HCL acquisition of Axon resulted in everyone with any skills leaving the firm. Initially, Infosys Technologies Limited (Infosys), the second largest IT company in India, planned to acquire Axon. On December 15, 2008, HCL Technologies (HCL) announced its acquisition of AXON Group Plc (Axon), a UK-based consulting firm, to tap the potential in the lucrative SAP market. Search Crunchbase. Subscribe to access expert insight on business technology - in an ad-free environment. HCL Axon acquired by HCL Armagh . HCL Technologies’ largest acquisition to date was in 2018, when it acquired International Business Machines - Software Products for $1.8B. 4 HCL leveraged itself to fund the acquisition of Axon by availing of a loan of GBP 400 million from SCB at USD LIBOR rate of 6.5% interest. HCL Axon wird 4.500 SAP-Berater haben, davon 1.700 von HCL, sagte Nayar. For desktop/laptop related queries or complaints, visit http://www.hclinfosystems.in. HCL completes Axon acquisition National,Business, Mon, 15 Dec 2008 IANS New Delhi, Dec 15 (IANS) HCL Technologies Monday announced it has successfully acquired leading UK-based SAP consulting company, Axon Group, for 440 million pounds in an all-cash deal. Log In. 3 ‘HCL AXON’ is the new entity post successful acquisition of Axon by HCL. Axon's skills complement HCL's capabilities in the areas of application maintenance and infrastructure management, said Ram Krishna, corporate vice president and head of enterprise application services at HCL. Oct 01, 2020. HCL’s acquisition of AXON combined the best of AXON’s strong business consulting and implementation capabilities and HCL’s robust global delivery-based application management capabilities. A total of 6 acquisitions came from private equity firms. According to 451 Research authored by Research Director Matt Aslett, through the Actian acquisition HCL Technologies has added new data management and -processing capabilities to its wider portfolio. Indian IT service provider, HCL Technologies has finally acquired UK based IT Company Axon. HCL Armagh . The acquisition by HCL was completed in December 2008. Implementation agreement concluded and board of directors of Axon (“Board”) recommends the offer to the shareholders of Axon. New Delhi/London: HCL Technologies has completed the acquisition of UK-based consulting Axon Group Plc for £441.1 million, making it the largest acquisition in tech space by any Indian company. NOIDA, London, 15 December 2008 – HCL Technologies Limited (‘HCL’) today announces that its £440m cash offer for the leading UK-based SAP consulting company, AXON Group Plc (AXON) has been successfully completed. Resources. HCL has a long history of experience in ensuring smooth integration and preserving the unique identity and character of the companies we acquire, and we welcome AXON employees into the HCL family in the form of HCL AXON”, said Vineet Nayar, CEO and Member of the Board, HCL Technologies. Companies People Investors Funding Rounds Acquisitions Schools ... AXON Group Ltd. HCL Technologies . New Delhi/London: HCL Technologies has completed the acquisition of UK-based consulting Axon Group Plc for £441.1 million, making it the largest acquisition in tech space by any Indian company. 9,867 Number of Organizations • $95.5B Total Funding Amount • 4,984 Number of Investors. The merger will allow HCL to address the about $23 billion market per year for SAP services, said Vineet Nayar, CEO of HCL in a conference call Monday. Aug 19, 2011 . HCL was aiming to become one of the most valuable brands in the world by 2010, the acquisition of Axon was a decision in this direction. The merger of Axon and HCL SAP practice presents a great opportunity to bring new capabilities to the market with a truly global delivery model providing the full lifecycle suite of services - fitting into HCL’s Blue Ocean strategy perfectly. January 2008 HCL initiates negotiations for acquisition of Axon. HCL Technologies, the country’s fifth-largest tech firm, on Friday announced a counter-offer to acquire UKbased SAP consultancy Axon Group for about £441.1 million ($810.8 million) or 650 pence a share. HCL provides software and services to U.S. Federal Government customers through its partner ImmixGroup, Inc. TCS sole bidder for UK personal project List of HCL Technologies 's 16 Acquisitions, including DWS and NortonLifeLock. Where to start? The revenue earned by Indian outsourcers from the SAP services market was only about $1.5 billion in a year, because they did not have the consulting capabilities to help customers transform their businesses, he added. You buy for the leverage and we continue to be on the lookout. HCL Axon will have 4,500 SAP consultants, with 1,700 of them from HCL, Nayar said. With HCL, you get a fresh perspective and a unique capability. Crunchbase News ; Subscribe to the Crunchbase Daily ; Who We Are. Indian outsourcer HCL Technologies has completed its £ 441 million (US$658 million) cash offer for Axon Group, an SAP consulting company in the U.K. and Axon … Resources. Axon will exist as a separate entity called HCL Axon. Aug 19, 2011 . Announced Date Oct 1, 2015; Stay Connected. Continue reading. This is one more major global SAP transformation win for HCL AXON since HCL Technologies' acquisition of AXON in December 2008. HCL did not, however, disclose how much it expects Axon business to add to its annual revenue. In reality he saw that the reason for purchasing AXON was because they were good at what they did, in fact better at it than HCL and the company would gain more value from learning from AXON and how it was being successful. INDIA’S largest tech acquisition bid just got bigger. In August 2008 Infosys Technologies offered £407m to acquire the business. Resources. With HCL’s acquisition of AXON Nayar saw the common mistake most companies make is to force their ideas and thoughts onto the newly purchased company and force it to adapt. HCL Technologies Presents at the 23rd Annual CITIC CLSA India Forum 2020. Northeastern US Information Technology Companies . The deal combines Axon's expertise in business consulting with HCL's other services for the SAP market delivered at a lower cost from India, Pai added. Read More . Axon had gained expertise in delivering SAP enabled business solutions and it offered consultancy services to leading multinational companies in no. It agreed to be acquired. The acquisition of AXON by HCL Tech had its share of drama. Pricing. The Axon Network connects people, devices, and apps to protect life in all regards. HCL Technologies has acquired 19 companies, including 12 in the last 5 years. HCL funded the transaction in U.S. dollars, Nayar said. To the Axon acquisition will help HCL become a brand name in the IT universe. Use the PitchBook Platform to explore the full profile. Track . The acquisition adds to HCL AXON's strength in implementation areas related to SAP and process consulting in the retail and wholesale industry. Indian outsourcer HCL Technologies has completed its £441 million (US$658 million) cash offer for Axon Group, an SAP consulting company in the U.K. and Axon will be delisted from the London Stock Exchange Tuesday. As a result of the appreciation of the dollar against the U.K. pound, HCL paid $658 million on closure of the deal, which was far lower than the estimated $800 million it looked like it would pay in September, he added. HCL announced the acquisition of Axon on December 15, 2008 for 440 million. Not to be denied, AXON opted for the opposite route to gain scale. We use cookies on our site. Acquisition search results. (Axon) by India-based IT software development company, HCL Technologies Limited (HCL). Axon will exist as a separate entity called HCL Axon. HCL Technologies completes acquisition of AXON Group plc Is the largest acquisition in the Tech space by an Indian company NOIDA, London, 15 December 2008 – HCL Technologies Limited (‘HCL’) today announces that its £440m cash offer for the leading UK-based SAP consulting company, AXON Group Plc (AXON) has been successfully completed. This acquisition also expands HCL Axon’s global footprint. INDIA’S largest tech acquisition bid just got bigger. How did that play out for Axon? NEW DELHI: The country’s third largest software services firm HCL Technologies NSE -3.44 % has announced that it is acquiring select IBM software products for $1.8 billion. The acquisition which is the largest in the history of HCL, is expected to close by mid-2019. “A Blue Ocean thinking to create … Axon Solutions is now HCL Axon following the HCL Technologies acquisition of Axon Group. (Axon): Listed on the prestigious London Stock Exchange, Axon is one of the leading players in the enterprise application services (EAS) segment. The case analyses HCL's strategy in this context, analysing the need for mergers and acquisitions (M&As) during an economic downturn. HCL and IBM expand alliance to help organizations with digital transformation. HCL Technologies, the country’s fifth-largest tech firm, on Friday announced a counter-offer to acquire UKbased SAP consultancy Axon Group for about £441.1 million ($810.8 million) or 650 pence a share. Pedagogical Objectives: To the need for M&As for companies who want to grow globally. The second largest software services provider infosys technology was also interested for the acquisition but dropped the idea of outbid HCL. C Vijaykumar, President & CEO, HCL Technologies on the technology opportunities in the post-pandemic world. The deal will help HCL grow its business in Europe, Pai said. HCL Group. Indian company HCL Technologies has completed the acquisition of UK-based consulting Axon Group for GBP 441.1 million (468.3 million Euro,) making it the largest acquisition in tech space by any Indian company, it was reported. Axon is known for consulting services based on business software created by Germany's SAP. 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